MOSCOW, Oct 8 (Reuters) – Russia’s largest bourse, the Moscow Exchange (MOEX.MM), stated on Friday it was suing the primary shareholder of its competitor, SPB Exchange, for not sharing market data.
SPB is hoping to boost $150 million in an IPO by itself bourse earlier than the top of this 12 months forward of a bigger U.S. itemizing within the first half of 2022, two folks accustomed to the matter advised Reuters on Thursday.
The Moscow Exchange stated NP RTS, which owns 16.5% of SPB and distributes its market data, had not responded to a number of requests for the data to be shared.
“After unsuccessful attempts to obtain market data from NP RTS, the Moscow Exchange was forced to take extreme measures and file a lawsuit,” the bourse stated in a press release, after the Moscow Arbitration Court printed paperwork regarding the case on Thursday.
“Unfortunately, today we see no other option for upholding our rights and the interests of Russian exchange market participants.”
A listening to has been set for Oct. 28, the courtroom paperwork confirmed.
SPB Exchange stated it was wanting into the matter, however gave no additional remark.
SPB, which specialises in overseas securities, had a buying and selling quantity in September of $26.8 billion, up 47.8% year-on-year. The Moscow Exchange’s shares part had a quantity of round $39 billion that month.